A microelectrode is an electrode of very small size, used to study the electrical activity of individual cell level. They are especially employed in electrophysiology for either recording of neural signals or electrical stimulation of nervous tissue. Microelectrode arrays can be used for applications such as controlling prostheses. Fabrication of microelectrodes is challenging task, as it requires the use of very precise equipment. Some microelectrodes have been produced using three-dimensional printing, which gives standardized size and design of the microelectrodes. Microelectrodes fabricated from sharpened wires are generally used by the neuro-physiologists. The metal microelectrodes are used in direct contact with the biological tissue and, therefore, have a lower resistance. Glass microelectrodes can be characterized by four parameters. These are the tip length, the tip diameter, the electrode resistance, and the electrode capacitance. Microelectrodes find applications in a variety of fields including their use by electrophysiologists to characterize neuronal action potentials and development of neural prosthetics.